Actually, in Norway there are some banks that use the credit card chip for two factor authentication (the same which is used for EMV). You put the card into a small "reader" with a display, and out pops a number that you use when logging into the online bank. Most banks however use a dedicated device with a time-based one time password.
I'm not sure why, but I've seldom seen EMV transactions take longer than a regular swipe, but this might be because both 1 second * 3 is still not that big of a deal. (Or for all I know, it might be because they are only validating the credit card number..)
The interesting thing is that skimming is still possible, at least in Norway. It still happens that there is some kind of communication problem with the EMV system, and swiping the card is the fallback option. I guess this option will be turned off as soon as it works "all the time" and they can remove the magnetic stripe.
I'm not sure why, but I've seldom seen EMV transactions take longer than a regular swipe, but this might be because both 1 second * 3 is still not that big of a deal. (Or for all I know, it might be because they are only validating the credit card number..)
The interesting thing is that skimming is still possible, at least in Norway. It still happens that there is some kind of communication problem with the EMV system, and swiping the card is the fallback option. I guess this option will be turned off as soon as it works "all the time" and they can remove the magnetic stripe.